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Carney Secures India Uranium Deal Amid US Tensions

Bloomberg Markets •
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Canadian Prime Minister Mark Carney secured a long-term uranium supply agreement with India during his first visit as elected leader to the country. The deal marks a significant expansion of Canada-India energy cooperation and comes as Ottawa seeks to reduce economic dependence on the United States amid rising global tensions.

Carney also revived stalled trade negotiations with India, aiming to strengthen bilateral ties between the two Commonwealth nations. The renewed talks signal Ottawa's strategic pivot toward emerging markets as Canada faces an increasingly uncertain relationship with its largest trading partner. The timing reflects growing concerns about US-Canada relations under the current administration.

The uranium agreement positions Canada as a reliable supplier to India's growing nuclear energy sector while providing Ottawa with a valuable foothold in the Asian market. For India, the deal ensures stable fuel supplies for its civilian nuclear program, supporting the country's energy security goals. Carney's diplomatic push demonstrates Canada's determination to diversify its economic partnerships beyond traditional Western allies.